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REM LLC ceases to be subsidiary of Reliance Industries

24 Jan 2018 Evaluate

Reliance Eagleford Midstream LLC (REM LLC) has ceased to be a subsidiary of Reliance Industries on account of amalgamation of REM LLC with its holding company viz. Reliance Holding USA, which in turn is a wholly owned subsidiary of the company.

REM LLC had in June 2015 divested its entire stake (49.9%) held in EFS Midstream LLC.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Peers
Company Name CMP
Reliance Industries 1206.65
Indian Oil Corpn. 130.50
Bharat PetroleumCorp 297.00
HPCL 343.05
MRPL 182.85
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